U.S. Concrete Inc. (USCR) Stock Price Down 3.3%
Shares of U.S. Concrete Inc. (NASDAQ:USCR) traded down 3.3% during trading on Wednesday . The stock traded as low as $54.63 and last traded at $54.90, with a volume of 282,891 shares trading hands. The stock had previously closed at $56.79.
Several analysts have commented on the stock. Sidoti cut shares of U.S. Concrete from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 20th. Zacks Investment Research cut shares of U.S. Concrete from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. SunTrust Banks Inc. assumed coverage on shares of U.S. Concrete in a research report on Monday, August 8th. They set a “buy” rating and a $75.00 target price for the company. DA Davidson assumed coverage on shares of U.S. Concrete in a research report on Wednesday, June 8th. They set a “buy” rating and a $80.00 target price for the company. Finally, BB&T Corp. began coverage on shares of U.S. Concrete in a research report on Thursday, April 21st. They set a “buy” rating and a $80.00 target price for the company. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $77.83.
The stock’s 50-day moving average is $61.32 and its 200 day moving average is $59.66. The stock’s market capitalization is $829.10 million.
U.S. Concrete (NASDAQ:USCR) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by $0.41. The company had revenue of $275.80 million for the quarter, compared to analyst estimates of $297.94 million. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities research analysts expect that U.S. Concrete Inc. will post $3.15 earnings per share for the current fiscal year.
In other U.S. Concrete news, VP Jeffrey W. Roberts sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $62.65, for a total value of $62,650.00. Following the sale, the vice president now owns 37,976 shares in the company, valued at $2,379,196.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William J. Sandbrook sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $64.19, for a total transaction of $417,235.00. Following the completion of the sale, the chief executive officer now owns 524,584 shares in the company, valued at approximately $33,673,046.96. The disclosure for this sale can be found here.
A number of hedge funds recently modified their holdings of USCR. Pear Tree Advisors Inc. bought a new stake in shares of U.S. Concrete during the fourth quarter worth $1,409,000. US Bancorp DE raised its stake in shares of U.S. Concrete by 13.3% in the fourth quarter. US Bancorp DE now owns 24,630 shares of the company’s stock worth $1,297,000 after buying an additional 2,883 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of U.S. Concrete by 48.9% in the fourth quarter. Principal Financial Group Inc. now owns 278,687 shares of the company’s stock worth $14,676,000 after buying an additional 91,475 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in U.S. Concrete by 11.4% in the fourth quarter. California Public Employees Retirement System now owns 57,800 shares of the company’s stock valued at $3,044,000 after buying an additional 5,900 shares during the last quarter.
U.S. Concrete, Inc is a producer of ready-mixed concrete in a range of geographic markets in the United States. The Company conducts its operations through two segments. The ready-mixed concrete segment engages principally in the formulation, production and delivery of ready-mixed concrete to its customers’ job sites.
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